EGY
VAALCO ENERGY INC /DE/
Next earnings Jul 13, 2026 · consensus $0.08 EPS, $111M rev
Last earnings -1.2% on 2026-05-07
$5.06
▲ +2.22%$5.06▲ +43.64%
over 1Y
L $3.29H $6.60
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.2%
1W+1.0%
1M-6.5%
3M-18.3%
YTD+41.5%
1Y+43.6%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 6 analysts
Buy
Cheap oil producer bleeding GAAP losses but gushing cash — a ~5% dividend and CI reserve upside offset frontier risk.
Revenue [FY2025] $359M · FY2025
VAALCO is a textbook cheap, low-quality cyclical. FY2025 revenue fell 25% to $359M and the company swung to a $41.4M net loss (EPS -$0.40) from +$58.5M a year earlier, dragging operating margin to -5.7% and ROE to -9.3%. But the headline loss is misleading: with $110M of non-cash D&A, operating cash flow actually rose 87% to $213M. Against a $528M market cap that is roughly 2.5x P/OCF — the market is pricing in continued distress, not a business still throwing off real cash. The revenue collapse looks price-driven (lower oil realizations) rather than volume collapse, since 2025 production of ~6.0 MMBoe was only modestly below 2024 and proved reserves slipped just 4.5% to 43.0 MMBoe.
The balance sheet is adequate but not comfortable. Liabilities/equity of 1.06x and only $60M long-term debt are manageable, and equity is $443M. The weak spot is liquidity: current assets of $133M against $192M current liabilities is a 0.69 current ratio (a working-capital deficit), and cash fell 29% to $58.9M. Management is still paying a $26.5M dividend (~5% yield at $5.06) and only token buybacks ($709K) — sustainable while OCF is strong, but the first thing at risk if oil weakens further.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 12:31 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $199M | $354M | $455M | $479M | $359M |
| Gross profit | — | — | — | — | — |
| Operating income | $79.1M | $171M | $159M | $136M | -$20.6M |
| Net income | $81.8M | $51.9M | $60.4M | $58.5M | -$41.4M |
| Diluted EPS | $1.37 | $0.73 | $0.56 | $0.56 | -$0.40 |
| Net margin | 41.1% | 14.6% | 13.3% | 12.2% | -11.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$549M
EV / EBITDA6.1
EV / Sales1.5
EV / FCF2.7
P / FCF2.7
PEG (trailing)—
Earnings yield-7.6%
FCF yield37.4%
Quality & risk
ROIC (est.)-3.2%
Free cash flow$202M
Total debt$66.7M
Net cash-$7.77M
Altman Z-Score1.15 distress
Piotroski F-Score2/8
Capital returns
Buyback yield0.1%
Dividend yield (est.)4.9%
Shareholder yield5.0%
Shares Δ YoY+0.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Officer / director change2026-06-09
Board/officer change disclosed (Item 5.02); routine leadership transition
- 8-K Officer / director change2026-06-04
Annual meeting vote results plus an officer change reported
- 10-Q Quarterly report2026-05-11
Q1 2026 report; reserves stable but FY prior swung to loss
- 8-K Earnings results2026-05-07
Released Q1 2026 results and operational update via press release
- DEF 14A Proxy statement2026-04-24
Annual proxy: director slate and exec-comp items for shareholder vote
- 8-K Earnings results2026-04-21
Issued operational/production update ahead of Q1 earnings
- 10-K/A Restated periodic report2026-03-20
Amended 10-K, adding Part III/proxy detail; no financial restatement
- 10-K Annual report2026-03-16
FY2025 net loss of $41M; OCF up 87% to $213M, dividend held
- 8-K Earnings results2026-03-12
Reported FY2025 swing to net loss on -25% revenue decline
Recent filings
all on EDGAR ↗SDFiling2026-06-24open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-052026-06-09open ↗4Period ending 2026-06-052026-06-09open ↗4Period ending 2026-06-052026-06-09open ↗4Period ending 2026-06-052026-06-09open ↗4Period ending 2026-06-052026-06-09open ↗4Period ending 2026-06-052026-06-09open ↗
Frequently asked
- Is VAALCO ENERGY INC /DE/ (EGY) a buy?
- EGY currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Cheap oil producer bleeding GAAP losses but gushing cash — a ~5% dividend and CI reserve upside offset frontier risk.
- What is VAALCO ENERGY INC /DE/'s quality score?
- EGY scores 46.02873563218391/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000894627, latest 10-Q filed 2026-05-11) · EODHD · Proprietary analysis · as of 7/3/2026, 4:31:34 AM.
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